The High Court has approved Royal London's plan to allow customers with guaranteed annuity rates (GARs) to convert their guarantees into a top-up for their pension pot.
In April, the provider announced its plan to offer an "actuarially fair exchange" for GARs in a bid to stop policyholders throwing away the value of the guarantees - noting Financial Conduct Authority...
Pension scheme trustees and sponsors should only seek to transfer members’ benefits to a defined benefit (DB) consolidator if there is no “realistic prospect of buyout in the foreseeable future”, The Pensions Regulator (TPR) says.
Guy Opperman says two page, simpler statements as well as an annual ‘season’ in which to issue them could be transformative steps for the UK pensions industry
A second pensions bill is likely during the “life of this parliament”, according to pensions and financial inclusion minister Guy Opperman.
A “legitimate debate and discussion” is needed over future auto-enrolment (AE) contribution rates, says Guy Opperman, and that could take place next year.
Julian Mund writes about planning for the future and the four challenges he sees for the pension industry over the next five years.